Board Risk Committee Guide

Different companies have different committees for risk management – Management Risk Committee, Board Risk Committee, Audit and Risk Committee, specialised Board-level risk committees such as Safety and Health Committee, and so on. How should a company best structure its governance of risk?

How can a company express its risk tolerance or appetite and communicate that internally and externally?

What are the lines of defence that a Board can rely on to ensure that the company’s risk management and internal controls are adequate and effective?

The answers to these questions, and more, are found in the Board Risk Committee Guide.

This definitive guide to risk management and internal controls for Boards and BRCs provides a comprehensive coverage of the regulatory and practical aspects of risk management. It is aimed especially at listed companies in Singapore. Its contents include:

Risk governance structures and a BRC’s role and responsibilities.

The BRC calendar and agenda.

The characteristics, types and categories of risk in a company’s risk universe.

The elements of an Enterprise Risk Management framework for ensuring the adequacy and effectiveness of risk management and internal controls.

The assurance framework needed to identify deficiencies and to prepare disclosures in risk management and internal controls.

Disclosures related to risk management.

The Board Risk Committee Guide has been produced with the support of KPMG, and a review panel of leading practitioners and professionals in the corporate governance field. It is part of a series of Corporate Governance Guides that covers Boards and Board Committees. It is produced by the Singapore Institute of Directors with the support of the Accounting and Corporate Regulatory Authority, the Monetary Authority of Singapore, and the Singapore Exchange Limited.

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SID is the national association of company directors and promotes the professional development of directors and corporate leaders. The institute works closely with authorities, regulators and a network of members and professionals, such as accountants and lawyers, to identify ways to uphold and enhance the highest standards of corporate governance and ethical conduct in Singapore.